3M (NYSE:MMM) Shares Sold by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC reduced its position in 3M (NYSE:MMM) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,750 shares of the conglomerate’s stock after selling 264 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in 3M were worth $301,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in 3M by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock valued at $4,590,533,000 after acquiring an additional 317,483 shares in the last quarter. Invesco Ltd. grew its position in shares of 3M by 2.4% during the third quarter. Invesco Ltd. now owns 4,082,950 shares of the conglomerate’s stock worth $382,246,000 after buying an additional 94,864 shares in the last quarter. Nuance Investments LLC grew its position in shares of 3M by 10.1% during the third quarter. Nuance Investments LLC now owns 4,062,557 shares of the conglomerate’s stock worth $380,337,000 after buying an additional 371,935 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of 3M by 1,273.9% during the fourth quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock worth $413,637,000 after buying an additional 3,508,334 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of 3M by 20.8% during the third quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock worth $275,630,000 after buying an additional 506,654 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.34% of the stock is owned by company insiders.

3M Stock Up 0.5 %

MMM stock traded up $0.42 during trading on Friday, hitting $91.83. 4,520,901 shares of the company’s stock were exchanged, compared to its average volume of 4,283,067. The business has a 50-day moving average price of $95.71 and a two-hundred day moving average price of $97.37. The stock has a market capitalization of $50.82 billion, a price-to-earnings ratio of -7.27, a PEG ratio of 1.73 and a beta of 1.02. 3M has a 52-week low of $71.12 and a 52-week high of $95.67. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the previous year, the business earned $2.28 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts expect that 3M will post 8.19 EPS for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.58%. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is currently -47.82%.

Analyst Ratings Changes

MMM has been the subject of a number of analyst reports. Mizuho reissued a “neutral” rating and set a $105.00 price objective on shares of 3M in a research report on Wednesday, March 27th. Royal Bank of Canada lowered their price objective on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. Barclays lowered their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their price objective on 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, Citigroup boosted their target price on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, 3M presently has a consensus rating of “Hold” and an average price target of $104.00.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.